Short-term stake in Kingsway Financial Services Inc. (NYSE:KFS) drops 20.5%


Kingsway Financial Services Inc. (NYSE:KFS – Get Rating) (TSE:KFS) benefited from a significant drop in short-term interest rates in April. As of April 15, there was short interest totaling 9,700 shares, down 20.5% from the March 31 total of 12,200 shares. Based on an average daily trading volume of 12,400 shares, the short-term interest rate ratio is currently 0.8 days. Currently, 0.1% of the stock’s shares are sold short.

Shares of NYSE KFS rose $0.03 on Tuesday, hitting $5.66. The company’s stock had a trading volume of 9,816 shares, compared to an average volume of 7,489. Kingsway Financial Services has a 12-month low of $4.61 and a 12-month high of $5.80. The company has a debt ratio of 49.82, a current ratio of 0.20 and a quick ratio of 0.20. The company has a 50-day simple moving average of $5.44.

Kingsway Financial Services (NYSE:KFS – Get Rating) (TSE:KFS) last announced its quarterly results on Monday, February 28. The insurance provider reported earnings per share (EPS) of $0.19 for the quarter. Kingsway Financial Services posted a net margin of 0.43% and a return on equity of 167.08%. The company posted revenue of $26.79 million for the quarter.

In related news, director Joseph Stilwell acquired 10,000 shares of the company in a transaction that took place on Wednesday, March 16. The shares were purchased at an average price of $5.50 per share, with a total value of $55,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the past three months, insiders have purchased 76,207 shares of the company worth $417,945. 56.40% of the shares are held by insiders.

Major investors have recently been buying and selling shares of the company. Geode Capital Management LLC acquired a new position in shares of Kingsway Financial Services in the third quarter worth approximately $120,000. BlackRock Inc. raised its position in Kingsway Financial Services shares by 193.8% in the third quarter. BlackRock Inc. now owns 37,512 shares of the insurance provider valued at $201,000 after buying an additional 24,743 shares in the last quarter. Belpointe Asset Management LLC increased its position in Kingsway Financial Services shares by 3.3% in the fourth quarter. Belpointe Asset Management LLC now owns 80,305 shares of the insurance provider valued at $440,000 after buying 2,553 additional shares in the last quarter. Finally, Stilwell Value LLC increased its position in Kingsway Financial Services shares by 4.4% in the fourth quarter. Stilwell Value LLC now owns 7,218,970 shares of the insurance provider valued at $39,560,000 after purchasing an additional 301,118 shares in the last quarter. 74.59% of the shares are held by institutional investors and hedge funds.

Kingsway Financial Services Company Profile (Get a rating)

Kingsway Financial Services Inc, through its subsidiaries, is engaged in commercial extended warranty services, asset management and real estate. The Company operates through three segments: Extended Warranty, Leased Real Estate and Kingsway Search Xcelerator. The Extended Warranty segment markets, sells and administers vehicle maintenance contracts and related products for new and used automobiles, motorcycles and ATVs.

Featured Articles



Receive daily news and reviews for Kingsway Financial Services – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Kingsway Financial Services and related companies with MarketBeat.com’s FREE daily email newsletter.

.

Leave a Comment